Renovation vs. New Construction: 5 Factors to Consider Before Making the Decision
When you look around your current home and decide it’s time to make some changes, you have many important issues to consider with respect to renovating versus new construction. Either decision has long-lasting implications for your budget, happiness and lifestyle. The construction experts at Tiefenthaler specialize in both new home construction and major renovations, and can suggest a few factors that you should carefully weigh before taking the leap.
Source: Tiefenthaler Construction
Source: Tiefenthaler Construction
1. Design preliminary sketches of both a renovation vs. a new home to see what the benefits to each choice.
2. Ask Tiefenthaler for a free, preliminary quote on each of the options to renovate or build a new home.
3. Consider whether you can live in your home during the renovation vs. moving out and renting a temporary residence while you build a new home. In Fairfield County, renting a place large enough to house your family and belongings can add upwards of $100,000 to the cost of building. That said, the inconvenience of trying to live in your home during a major renovation does not suit everyone’s lifestyle either. Be honest with yourself and budget accordingly.
4. Consider your current neighborhood- how convenient is your work commute? Are the school systems great? What about the real estate taxes? It’s possible that moving to an adjacent town and building a new home or renovating an existing home in that town may offer you and your family better options than staying where you are now and trying to renovate.
5. No matter what your decision is, have an open mind and a positive attitude. It can be very FUN to renovate and/or build a new home. Choose your architect and builder carfeully as you will be working side-by-side for close to a year or more.
Please contact a specialist at Tiefenthaler if you have other questions on renovating versus new construction. We can help you work through additional factors that are specific to your household and needs, and can make recommendations based on your circumstances.
